Investing outside the US?
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Investing outside the US? (by Dodge [PA]) Nov 21, 2023 7:24 PM
       Investing outside the US? (by Richare [MI]) Nov 21, 2023 9:40 PM
       Investing outside the US? (by don [PA]) Nov 21, 2023 11:59 PM
       Investing outside the US? (by Moshe [CA]) Nov 22, 2023 12:02 AM
       Investing outside the US? (by Small potatoes [NY]) Nov 22, 2023 12:31 AM
       Investing outside the US? (by Ray-N-Pa [PA]) Nov 22, 2023 7:20 AM
       Investing outside the US? (by Deanna [TX]) Nov 22, 2023 9:03 AM
       Investing outside the US? (by Robert,OntarioCanada [ON]) Nov 22, 2023 11:01 AM
       Investing outside the US? (by LTD [AZ]) Nov 22, 2023 6:02 PM
       Investing outside the US? (by LTD [AZ]) Nov 22, 2023 6:26 PM
       Investing outside the US? (by Ray-N-Pa [PA]) Nov 26, 2023 8:37 PM

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Investing outside the US? (by Dodge [PA]) Posted on: Nov 21, 2023 7:24 PM
Message:

Some one mentioned investing outside the US. Has anyone bought RE in another country?

Was it difficult?

How well is it working out?

--98.235.xxx.xxx




Investing outside the US? (by Richare [MI]) Posted on: Nov 21, 2023 9:40 PM
Message:

It's not that hard. You have to get local experts involved in all phases. Acquisition, repairs and management. Unless you move there, but then you will likely need all the experts anyway.

Try looking at Belize, Panama, eastern Europe countries, Japan and Mexico, Ireland and Iceland. All those places are interesting. I'd probably avoid certain areas where there are known problems. I'd avoid Australia and NZ too unless they change some things. Likewise countries with socialist governments. --75.7.xx.xx




Investing outside the US? (by don [PA]) Posted on: Nov 21, 2023 11:59 PM
Message:

I don't buy it unless I can drive to it in an hour or less. Real estate is a business that gives advantage to the local investor that knows the lay of the land and can keep his hand on the tiller. I could just imagine dealing with bureaucrats in some foreign country. --73.141.xxx.xxx




Investing outside the US? (by Moshe [CA]) Posted on: Nov 22, 2023 12:02 AM
Message:

YES, when my wife's stepfather passed away, my wife inherited his apartment in Israel and we tried for a few years to rent it out. It was a nightmare.

There are laws that we would never dream of. We had our own apartment that we were also renting, and having 2 apartments meant extra (very high) taxation. Housing shortage meant no one should have 2 apartments, when some couples can't have even one.

Then, there were currency restrictions. Not allowed to buy USD, unless you go to the black market. And then, you can be assured of getting cheated.

Not being there to watch over the property, everyone here knows about. We hired the husband of my wife's friend, a member of the bar. He pocketed the rent for 4 years, while printing out fake bank receipts. We sued him, took 2 years, he wouldn't settle, we had to travel to Israel to testify. The judge say "the poor fellow just got behind", awarded the rent but no travel expenses or attorney fees, because "the poor fellow" had lost his father in the 1948 War for Independence. Then, OUR attorney pointed out that in all court cases in Israel. USD are supposed to flow INTO Israel instead of flowing OUT.

Some of these details may be specific to Israel, but you need to assume that when you are investing abroad, don't expect that things are like the states.

--47.139.xx.xxx




Investing outside the US? (by Small potatoes [NY]) Posted on: Nov 22, 2023 12:31 AM
Message:

Who was it a few years back That talked about investing in China real estate? --172.56.xxx.xxx




Investing outside the US? (by Ray-N-Pa [PA]) Posted on: Nov 22, 2023 7:20 AM
Message:

Thailand and Mexico don't allow foreigners to own real estate. But you can purchase a 99 year leasehold.

In Japan it is typical to have a 40 year or more mortgage. --24.101.xxx.xxx




Investing outside the US? (by Deanna [TX]) Posted on: Nov 22, 2023 9:03 AM
Message:

Small Potatoes, you're thinking about Moshe's "China" thread from 1/30/19. My impression was that it was a fund investment, rather than direct owning/management?

I was curious how that had performed over time, especially when the Evergrande stuff started hitting the news, but I've never caught a follow-up. I'd be interested in hearing, because it seems Moshe has experience with direct vs indirect overseas investment, and can compare various countries with various approaches, what was promised vs how it performed, and other helpful bits.

--137.118.xx.xxx




Investing outside the US? (by Robert,OntarioCanada [ON]) Posted on: Nov 22, 2023 11:01 AM
Message:

Here if invest in the province of Alberta is good where other provinces are really not good to invest in rental housing as rent control along with higher operating costs along with a difficult eviction process. During the pandemic a lot of Canadians bought property in Niagara Falls New York where that was a problem with pandemic.. There is great difference in the price of basic house between the two countries. So hopefully the pandemic is a one in lifetime event. --207.236.xxx.xxx




Investing outside the US? (by LTD [AZ]) Posted on: Nov 22, 2023 6:02 PM
Message:

Actually in Mexico you can hold fee simple title, except in the "exclusion zone," from the ocean inland 25 miles and beyond 100 miles from the border, IIRC. (It may be the other way around 100 from the coast - it's been a long time, I forget.)

I don't think I ever told you guys. I had a house in Belize for awhile back when I lived in Florida. It was a small 2/1, made of Honduran mahogany with bootleg electricity (like everyone) and a sewer pipe that ran right out into the bay. Very ecological, they probably have stopped that. I'd hope.

Oh lordy and I just remembered. It had one of those electric shower heaters that heats the water as it comes out the faucet - showering with live wires like a foot above your head! I at least sealed them with tape and silicone. Just one of a thousands ways to die down there. LOL

My furniture was all mahogany, made by a group of Mennonite farmers. This was around 1985 about 4 years after independence. The British Army was still transitioning out. Guatemala had declared Belize part of Guatemala after WWII and they have argued over it ever since. But being a Commonwealth nation good luck with that. When I was there Belize had a battalion of Gurkha's and a squadron of Harrier jets - vs Guatemala's Air force of old P-51's and Cessna's. LOL

Back when Belize Air was pretty new we could fly from Miami to Belize for $50 round trip. Once I was the only person on the flight. The actual cost was about $300 but a trick was to buy your tickets in Honduras using Lempira. You could fly to San Pedro Sula, about 40 minutes away on the same $50 ticket. The plane went on to Managua and you had about 4 hours to catch the return flight back to Belize City.

I'd buy like 5 r/t's at a time, then just change the dates if needed. What you did was exchange dollars for Lempira at the street rate of 6 to 1, but the air fares were calculated at the "official" rate of 2 to 1. It was free money! You could stop in Cancun too on the same deal.

Something I found funny, at the San Ignacio border crossing to Guatemala (the road to Tikal) were dueling billboards. Facing Belize was a big sign showing a giant map of Guatemala with Belize as part of the country. Facing Guatemala was another big sign that said, "Welcome to the Independent Nation of Belize!" Basically two countries flipping the bird at each other. LOL I don't know if they are still there or not.

OK last of the story. I had a friend who was an anthropology teacher. One time we drove up to Tulum (the Maya ruins on the coast) and camped on the beach. Long before it was gated off or guarded. It was just... there. You could just walk in off the beach. We sat up on the sacrificial alter of the pyramid drinking wine as the sun set over the Caribbean. It was, mystical. There's a small cave under the ruins by the beach and my crazy friend insisted we climb through it (this was after sunset, in the dark). So of course our only flashlight quit half way through and we had to feel our way out!

Oh, I got one more. Same friend. I forget the name of the town, but it's somewhere around Chichen Itza in the Yucatan. We were driving a rented VW bug and came into this town. Without provocation people in the streets attacked us with garden hoses and throwing water balloons! Yikes! It was a freaking war zone! The entire town was having an annual gigantic water fight in the streets! Kids, parents, even old people were out throwing water balloons!

Good times.

And Happy Thanksgiving. --47.216.xx.xxx




Investing outside the US? (by LTD [AZ]) Posted on: Nov 22, 2023 6:26 PM
Message:

Oh - I forgot. The process of buying land down there was pretty simple. It's probably changed now and I'm probably forgetting parts, but back then notaries and lawyers did a title search. There were no real estate agents - or rather anybody could be a RE agent. You put your funds (ALL the funds) into an escrow at a bank. They drew up a land certificate (I think was the name) and a deed was filed with the Dept of Lands. You had to pay a stamp tax (sales tax) and that was it. I want to say the fees were about $250. My house cost $5,000, the wood was worth more than that.

Should have kept it.

--47.216.xx.xxx




Investing outside the US? (by Ray-N-Pa [PA]) Posted on: Nov 26, 2023 8:37 PM
Message:

LTD,

That makes sense. I was considering moving down near Rosarita along the beach San Diego was about eight times more expensive than the Playa was. Crossing the boarder would have been a daily bear though --24.101.xxx.xxx



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